Dubai, Mar 3: Abu Dhabi-based Indian retail tycoon MA Yusuff Ali has become the first Indian to receive Saudi Arabia's premium residency, his office said in a statement on Monday.
Yusuff Ali, 64, is the chairman of the LuLu Group, who was ranked the richest expat in the UAE by the Forbes magazine last year.
The permit, informally known as Saudi Green Card, grants expatriates the right to live, work and own business and property in the Kingdom without need for a sponsor, the LULU group said in a statement.
The introduction of the Premium Residency comes as a part of Saudi Arabia's Vision 2030 reform plan, which was announced by Crown Prince Mohammed bin Salman to boost the Saudi economy, the statement said.
Yusuff Ali said "obviously a very proud and humbling moment in my life. This is a great honour not only for me but for the entire Indian expat community and I sincerely thank the HM the King Salman, HRH Crown Prince Mohamed bin Salman and the government of Saudi Arabia."
"@Yusuffali_MA , an investor from India, after obtaining Premium Residency in Saudi Arabia: ''The Kingdom became an attractive investment destination due to the remarkable growth in economy," Premium Residency tweeted on Monday.
Yusuff Ali said he was sure that this new permanent residency initiative will further boost Saudi Arabia's image as one of the key investments and business hubs of the region as well as attract and retain new investors.
This initiative is targeting key investors and prominent personalities from various fields, including sports, arts & culture, who have played a defining role in the nation building process.
The Lulu Group owns and operates more than 35 hypermarkets and supermarkets in Saudi Arabia, which includes ARAMCO Commissaries and National Guards super stores.
Comments
Kumar!! Shut up!! Don't blame his parents, and exactly nobody know what took place there..
Rider must have controlled the bike... So it depends on rider, how he rides..., imagine how hurted parents are? Instead blaming them...
And think twice before you type sh*t
Dear Mr. Kumar, your comment reflects your immaturity, lack of understanding of the situation and although I'm sure your intentions were at the right place. I would like to tell you that the deceased and both the parents were not fools. Only you seem like a fool here for that insensitive comment. I hope no harm comes to you and ur loved ones and you are not called a fool for it. I wish you a safe life. Also, I hope you did pray for the departed soul.
Dear Mr Kumar, your comment shows your lack of understanding of the situation. Also the parents were not at fault here. Since you didn't know the person and since the full situation is not given.. I would suggest you would shut up before passing blame or using such words about the deceased person. The person and parents were both not fools. The only fool I see here is you. I suggest you stay safe though. And no harm comes to you. And people not call you a fool after such a tragic incident. Also thank you Mr./mrs.shaji for showing maturity and decency.
Dear Kumar, we cant blame parents. sometimes, they are helpless agaisnt the hard will of their kids. Some boys even say to their parents that they will discontinue study in case their demand is not met. May God bless kids with correct way of life.
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